A Firm Licensed By The CBN Intends To Address The Challenge Of FX Liquidity Crisis

Nairagram, a licensed International Money Transfer Operator, has announced its strategic partnership with the Central Bank of Nigeria, Sebastian BDC, and Keystone Bank to combat the foreign exchange liquidity challenges currently facing Nigeria. This collaboration aims to introduce an international payment service initiative designed to enhance financial connectivity and empower Nigerians financially.

According to the statement issued by Nairagram, this service seeks to simplify and improve the process of sending money from Nigeria to the global stage. By working closely with the Central Bank of Nigeria, Sebastian BDC, and Keystone Bank, Nairagram aims to facilitate hassle-free remittances abroad, promoting financial inclusion and strengthening bonds within the Nigerian community.

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This international payment service will enable seamless transfers from Nigeria to various countries, including Ghana, Senegal, Gambia, Kenya, Cameroon, Ivory Coast, Mozambique, Tanzania, Uganda, Zambia, Zimbabwe, Guinea Conakry, Rwanda, Congo DRC, Burkina Faso, Mali, Benin, Togo, Gabon, Ethiopia, and many others.

Nairagram’s commitment to providing innovative and straightforward financial solutions tailored to the unique needs of Nigerians is at the forefront of this initiative. This expansion, carried out in partnership with the CBN, represents a significant stride toward Nairagram’s mission to revolutionize the money transfer industry within and outside Africa.

Furthermore, the statement revealed that the service will be extended to include the USA, UK, UAE, and Turkey in the coming months, underlining Nairagram’s dedication to offering efficient and convenient international remittance solutions.

Additionally, during the screening session of members of the Senate, the newly appointed Governor of the Central Bank of Nigeria, Olayemi Cardoso, expressed his commitment to addressing the country’s forex crisis by prioritizing the resolution of the apex bank’s backlog of unsettled foreign exchange obligations in the near term.